As expected, it was a lacklustre day for global financial markets yesterday. With US markets enjoying a midweek break for the Juneteenth holiday, investors took the opportunity to reassess positions and markets were quiet and rangebound.
UK CPI data was the only major risk event, and the data came in largely on expectation, confirming that underlying price pressures remain, the pound edging higher on the day.
It will very much be the case of yesterday’s calm before today’s storm today though as the market negotiates its way through no less than three major central bank rate announcements, some major data releases and the return of US players to the fray in the sessions ahead.
| Market | Change | Close |
| Dow | +0.15% | 38,834 |
| S&P | +0.25% | 5,487 |
| Nasdaq | +0.03% | 17,862 |
| USD | Flat | 105.25 |
| US Treasury – 2 Year | -3.8 bps | 4.724% |
| US Treasury – 10 Year | -6.2 bps | 4.217% |
| Oil – Brent | -0.1% | $85.27 |
| Oil – WTI | -0.1% | $81.47 |
| Gold | +0.1% | $2,330 |
Today’s Events:
Asian Session
- 8.45 am – New Zealand Quarterly GDP Data
- 11.15 am – Chinese Loan Prime Rate Decision
European Session
- 5.30 pm – Swiss National Bank Rate Decision and Policy Assessment
- 6.00 pm – Swiss National Bank Press Conference
- 9.00 pm – Bank of England Rate Decision and Policy Summary
US Session
- 10.30 pm – US Unemployment Claims
- 10.30 pm – US Building Permits Data
- 10.30 pm – US Philly Fed Manufacturing Index
